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  • Registered: 2019-03-21
  • Posts: 1,647

Re: ForexMart's Forex News

Gold hits historical high: $2,800 per ounce

The price of gold has reached an unprecedented level — for the first time in history it exceeded $2,800 per ounce. The current price of the precious metal is $2794. 

Such a rapid price increase exceeding 30% this year is attributed to several factors. First, central banks are actively buying gold, making it more in demand on the market. Secondly, during the period of geopolitical instability caused by conflicts in the Middle East and Ukraine, investors are increasingly turning to gold as a «safe haven.»

Also, the uncertainty caused by the upcoming presidential elections in the United States supports interest in gold as a reserve asset. Analysts are recording a strengthening market position, expecting not only a reduction in Fed rates, but also broader market and geopolitical uncertainty.

Global demand for gold reached a record high in the third quarter, exceeding $100 billion. According to the World Gold Council, sales volumes increased to 1,313 tons, due to active investment flows, including from wealthy individuals from Western countries.
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  • Registered: 2019-03-21
  • Posts: 1,647

Re: ForexMart's Forex News

The European economy grew in the third quarter

In the third quarter, the eurozone economy showed unexpectedly strong growth, reaching 0.4%. France and Spain became the key drivers of this growth, and Germany, which was previously under threat of recession, increased GDP by 0.2%. In Italy, the production level remained at the level of the previous quarter.

Inflation in Spain accelerated slightly to 1.8%, remaining within the ECB's target range of 2%. Consumer prices in Germany rose by 2.4% y/y in October.

Germany still faces challenges such as loss of competitiveness due to high energy costs and a shortage of qualified personnel. Nevertheless, growth in the third quarter was supported by consumer and government spending.

The growth of the French economy is associated with the Olympic Games, as well as with increased government spending, despite the difficult financial situation. Although the increase in French GDP has brought some relief to the government, weak investment figures and a slowdown in consumer spending continue to negatively affect the budget.

Austria also showed growth of 0.3%, while Portugal and Lithuania have seen an acceleration in GDP growth.
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  • Registered: 2019-03-21
  • Posts: 1,647

Re: ForexMart's Forex News

Oil soared amid Iran's threats

Tensions in the Middle East have brought the market's attention back to the escalation of hostilities, which has led to a sharp rise in oil prices. Reports of a possible Iranian attack on Israel from Iraq in the coming days forced investors to pay attention to geopolitical risks.

On Friday, Brent and WTI recorded significant growth, exceeding $74.80 and $70.2, respectively. At the beginning of the week, prices fell after a limited Israeli attack in response to rocket fire from Iran, but experts warned that the market «relaxed too quickly.»

Despite some encouraging signals, including the American proposal for a cease-fire in Lebanon and Israel's stated willingness to respond decisively, market participants continue to anxiously observe the growing tensions in the region.

The oil market will be under the close attention of investors in the near future, as a number of key events may significantly affect prices. Next week, the United States will hold presidential elections and a meeting of the highest legislative body in China. Also, the decision of OPEC+ to gradually resume production from December will have significant weight for the price trend.
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  • Registered: 2019-03-21
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Re: ForexMart's Forex News

German industry is looking for salvation abroad

A study conducted in September 2024 among the top managers of 115 industrial companies in Germany revealed alarming trends.

Almost half of the respondents (45%) plan to expand abroad. And only a few companies (13%) are interested in new branches within the country. Moreover, 29% of enterprises reported readiness to transfer jobs from Germany, and only a tiny part (4%) is considering the reverse process of returning immigrated employees.

The results of the study confirm the fears of managers that more than two thirds of the survey participants are confident that the number of jobs in Germany will decrease in the coming years. Only about half expect the situation to improve in five years, while the rest are skeptical about the prospects for the development of the German economy.

Experts point to a number of reasons underlying the current trend. The majority of respondents consider excessive bureaucracy to be the main obstacle to economic recovery. «Wrong policy decisions,» according to almost half of the respondents, also play a significant role in slowing growth. «Insufficient management efficiency» is considered a problem by every fourth participant in the survey.
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Re: ForexMart's Forex News

Copper rises in price on positive signals from China

Copper futures are rising for the third day in a row on the back of positive economic news from China and expectations of new support measures from Beijing.

Activity in the service sector in China increased last month at the fastest pace since July, and recent data also showed an increase in business activity in the industry. These indicators suggest that China's efforts to stimulate the economy are beginning to have an effect.

According to forecasts, at a meeting of the Standing Committee of the National People's Congress, the Chinese government may announce additional support measures.

Metals, including copper, had previously declined in price as initial optimism about China's stimulus measures gave way to doubts. However, this week the markets will also be watching the results of the US elections, which may add volatility. According to Citigroup, copper on election day has typically grown in nine of the last ten election cycles and may temporarily rise in price to $10,000 per ton amid monetary easing in China and the United States, as well as possible changes in tariffs depending on the outcome of the election.

Copper rose 0.43% on the London Metal Exchange and is trading at $9,724.50 per tonne. Aluminum also rose 0.78% to $2,641 per tonne after reports of a decline in inventories in China to the lowest level since February, according to Shanghai Metals Market.

Iron ore futures rose 1.39% to $103.91 per tonne on the Singapore Stock Exchange, continuing a similar rise since Monday.
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Bitcoin has updated the historical record amid Trump's victory

On the night of November 6, the bitcoin exchange rate reached a new historical high, exceeding the $75,000 mark.

According to Coinmarketcap, the cost of one bitcoin was $74,909, after which the exchange rate decreased slightly and began to grow again, stopping at $74,500.

On the Binance exchange bitcoin was briefly trading at exactly $75,011.

The growth of bitcoin occurred against the background of the US presidential election held yesterday, as a result of which Donald Trump, known for his support of cryptocurrencies, won. This has caused optimism among investors who expect positive changes for the digital asset market.

Bitcoin set the previous record in March 2024, when its exchange rate reached $73,777.
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Re: ForexMart's Forex News

The price of oil is falling amid the rising dollar

On Thursday, the price of oil continued to fall after the US presidential election, succumbing to the pressure of the rising dollar.

The price of Brent decreased by 0.6% to $74.15, and WTI — by 0.88% to $70.97. Experts note that the strengthening of the dollar and weak demand are putting pressure on the price of oil. At the same time, potential price growth factors are associated with the possibility of tougher sanctions against Iran and Venezuela, as well as the risks of geopolitical aggravation in the Middle East.

Analysts believe that in the short term, oil prices may continue to decline unless serious geopolitical events occur. Other experts believe that Trump's policy aimed at supporting business can contribute to the growth of the economy and fuel demand. However, intervention in the Fed's easing policy may have a negative impact on the oil market.

Additional pressure on prices is exerted by a decrease in oil imports to China and an increase in oil reserves in the United States. It is expected that Trump will resume the policy of sanctions against Iranian oil, which may lead to a reduction in supplies. This, in turn, may have an impact on prices in the future.
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Bitcoin has broken the historical maximum of $81000

The bitcoin exchange rate exceeded $81,000 for the first time after Donald Trump's victory in the US presidential election. Traders expect a relaxation of cryptocurrency regulation by Trump, who has previously expressed his support for them.

On Monday, bitcoin rose 2.8% to $81,241. Over the past week, the growth was 14%, over 25% in a month, and over 100% in a year.

Republicans, in addition to Trump's victory, are approaching full control of Congress. This will allow the new administration to implement policies that will support cryptocurrencies.

Experts suggest that the new administration will bring positive changes, in particular, in the work of the Securities and Exchange Commission. These changes will lead to a softer regulatory stance on digital assets.

They also note that the increased demand for bitcoin is due to a combination of favorable factors: reduced regulatory risks, improved financial conditions and optimistic macroeconomic prospects for the United States.
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  • Registered: 2019-03-21
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Re: ForexMart's Forex News

Oil continues to fall: weak demand and strengthening of the US dollar

Oil continues its rapid decline, experiencing the most serious drop in two weeks. Weak demand in China, a strong US dollar and fears of oversupply are putting negative pressure on prices.

Brent futures fell almost 3% on Monday and are trading below $72 per barrel. WTI prices also fell to $67.78, losing about 0.37%.

China's recent efforts to stimulate the economy have not met investors' expectations, and inflation in the country remains low. At the same time, the US dollar index has reached new multi-month highs, which makes oil more expensive for most buyers.

The oil market has been in a relatively narrow range since the middle of last month, but now the outlook remains weak. Oil supply is expected to exceed demand next year. OPEC's monthly market report, expected later on Tuesday, may shed light on the prospects for market balance.

Experts note that significant factors are needed to change the negative trend in the oil market, such as the postponement of the return of OPEC+ oil production or the imposition of US sanctions against Iran.
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